Mortgage information in Australia
In recent years property in Australia has boomed and there have been significant increases in value in all the major hotspots (from Sydney to Brisbane and from Cairns to Melbourne). The Australian Housing Industry Association report that the real estate market remains positive.
Non-permanent residents or non-citizens of Australia wishing to purchse property are required to seek permission from the Foreign Invstment Review Board.
Your Australian mortgage will be based upon your joint gross monthly income and is calculated on the basis of affordability. All your exisiting liabilities, including any rent/mortgage payments, loans, etc ., will be taken into account.
Proof of income is required in all cases and can be made up of earned income, pension, rental or investment income. There is, however no guarantee that the lender will take these incomes into account when calculating the maximum loan available to you. |
